Bitcoin's price received a boost after comments made by the US Federal Reserve Chair Jerome Powell during a press conference following a Federal Open Market Committee (FOMC) meeting. Powell suggested that the central bank is in no rush to raise interest rates despite inflation concerns, which led to a weakening of the US dollar. This, in turn, has benefited Bitcoin's price, which has been on a downward trend for the past few weeks. The comments by Powell are seen as a positive sign for the cryptocurrency market, as a weaker dollar typically leads to increased demand for alternative assets such as Bitcoin.

(By Siamak Masnavi)